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01-17-2008, 09:33 AM
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#2
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Junior Mommysavers Member & Approved Trader
Last Online: Yesterday 11:57 PM
Join Date: Jul 2007
Posts: 3,454
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I am not A financial expert - But We Have been through Recessions before. They are not to Be confused with an Economic Depression.
I think the last recession was in early 2000's - Maybe 6 yrs. ago?
I guess what you Do in a Recession would Be a Personal Issue- Meaning if Your Job industry Is affected , you may lose your Job, You also May Lose investments Or Not Be able to Sell your House if You have it on the market.
It all depends on the area you live in and The employment Factors there too.
Wikepedia Definition
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macroeconomics, a recession is a decline in any country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. However, in the United States the official designation of recessions is done by the business-cycle dating committee of the National Bureau of Economic Research (Feldstein, 2007). The American National Bureau of Economic Research defines a recession more ambiguously as "a significant decline in economic activity spread across the economy, lasting more than a few months." A recession may involve simultaneous declines in coincident measures of overall economic activity such as employment, investment, and corporate profits. Recessions may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation. A severe or long recession is referred to as an economic depression. A devastating breakdown of an economy is called economic collapse. Newspaper columnist Sidney J. Harris amusingly distinguished terms this way: "a recession is when you lose your job; a depression is when I lose mine."
Market-oriented economies are characterized by economic cycles, but actual recessions (declines in economic activity) do not always result. There is much debate as to whether government intervention smoothes the cycle (see Keynesianism), exaggerates it (see Real business cycle theory), or even creates it (see monetarism).
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what is a recession?
Linear Mode
